The ability to utilise the tax losses is dependent on continuing to meet shareholder continuity requirements of prevailing income tax legislation.
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So if enough shareholderrs die, it is bye bye tax losses? If I was on the ALF board I would be taking some pro-active action. Full medical checks and a health camp for all shareholders. I would bring back the Colin Meads fitness program, jogging up and down hilly farms with a fence post strapped to your back. Adidas footwear out and Red Bands in. Mutton chop side burns and mutton chops for lunch. Don't touch any of that namby pamby lettuce on your plate. Use it as bait for rabbits you can chase after dark with a stick.
Of course dear old Colin is no longer about to implement such a program. So we would need a new head coach. Someone with enough grey hair so as not to scare shareholders, but who is nevertheless in good enough physical shape to pull it off. There is this expat bloke I heard about who might fit the bill. He has endured a special diet regime, supervised by her majesty in 2020 in England. Furthermore he has been doing a lot of running keeping out in front of this group called 'the creditors' (hadn't heard of them before, but I think they are some kind of international harrier club with a presence on many continents). He is reputedly very difficult to catch, so he must be a very very fit guy. Mentioned his name 'Eric Watson' to an ALF shareholder the other day whose eyes lit up, (into a kind of bloodshot red). So NZ name recognition remains strong after all these years. I reckon if Eric was appointed there would be plenty of ALF shareholders that would 'join the fitness wagon' and go after him.
SNOOPY
The market seems to like the announcement
Up 1c so far on Untold New Tax Losses added, that probably wont be capable of offset for donkey's years :)
Somewhere, some poor sucker has had to pay dearly dollar for dollar on every single $ of the increased tax losses
Did someone say FREE SHARES for PERFORMANCE FEES in September 2022 ?
https://www.nzx.com/announcements/398145
What a wonderful amazing investment ;)Quote:
New Zealand Rural Land Company (NZL.NZX) confirms today it has issued 2,499,747 fully paid ordinary shares to satisfy the Performance Fee for FY22 at an issue price of NZ$ 1.6462.
Total number of shares on issue is now 115,601,570. An NZX capital change notice is attached to this announcement.
Rob Campbell
Independent Chair
Issue Cost $1.65 each
Closing Mkt Friday $1.08m
Almost 2.5 million of the little beggars issued in early Sep 2022
Provisional Impairment provision to date needed $1.425 MILLION in the Red to ALF or was it just half ALF's at that point ?
Still no prospect of dividend either - and no cash, infact reduced value of Fees from managing the NZL Muddy Boots Empire evaporating off into fresh air - with things looking to worsen with even heftier borrowing costs over yonder @ NZL to come..
https://www.stuff.co.nz/business/131...t-pay-57m-debt
Liquidators will move to bankrupt Eric Watson if he doesn't pay $57m debt
Oh dear - poor Eric .. Any jobs going at Alfred, to help Eric try to get out of a tight spot, or not ? ;)Quote:
The liquidators of Cullen Investments are chasing former high-flying Kiwi businessman Eric Watson for repayment of $57 million he borrowed from his failed company.
In the High Court in Auckland on Tuesday, Justice Neil Campbell ruled in favour of the liquidators KPMG, noting it was a straightforward claim for money owing as a result of advances made to Watson over several years when he was a director of the company.
Justice Campbell said he was satisfied that Watson had no defence to the claim. Neither Watson nor his lawyer were present.
Leon Bowker of KPMG said they would now be looking to enforce the judgment.
The Cullen Investments can of worms appears to be turning into very bad Hangover for Eric :)
A very strong interim.
https://www.nzx.com/announcements/407545
Once we have 100% of NZRLM we should see some capital distributions
Does anyone know who WAF are who have acquired over 5% on market?